BAKU, Azerbaijan, April 22
By Jeila Aliyeva - Trend:
Eurasian Group (EAG) is working on assessing Turkmenistan's compliance with Financial Action Task Force (FATF) recommendations, EAG told Trend.
The report on Turkmenistan’s mutual evaluation to assess levels of implementation of the FATF recommendations is planned to be discussed at the 36th EAG Plenary in May 2022, the message said.
“The EAG Mandate includes also typological studies and projects,” added EAG.
“Turkmenistan is an active participant in several project groups, including the development of the EAG anti-money laundering/countering the financing of terrorism (AML/CFT) Financial Investigations Guidance,” said the message.
Earlier, EAG told Trend that first mutual evaluation report of Turkmenistan was conducted in 2011.
“EAG conducts mutual evaluations of the member states, including Turkmenistan, to assess levels of implementation of the Financial Action Task Force (FATF) Recommendations and the effectiveness of anti-money laundering and combating financing of terrorism systems (AML/CFT),” said EAG.
FATF-style regional bodies (FSRBs) conduct mutual evaluations in which the national AML/CFT regimes of the member states are assessed for conformity to international standards.
“Mutuality means that representatives of all the member states of the FSRB evaluate the other member states one-by-one according to the evaluation schedule,” said the report.
Earlier, Turkmenistan has set up an interdepartmental commission on the preparation for the EAG's assessment of Turkmenistan's FATF Recommendations implementation.
Turkmenistan joined the EAG in 2010.
Turkmenistan adopted a law on combating money laundering and the financing of terrorism in 2009.
Later, according to the recommendations of the FATF, an article was introduced on criminal liability for the financing of terrorism.
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